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Euro Nosedives As Goldman's $1.35 Stop Loss Triggered
As we expected last night, the $1.35 EURUSD stop level that was advocated by Goldman, was just breached. Note the major sucking sound lower as all support was taken out. Watch out below as more rumors of Greece getting thrown to the lions emerge all week.
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Just curious how many US treasury's need to be sold this week ? last downside action seemed to correspondwith a shitload of sales . Then after the sales the euro made a "comeback". Coincidence ?
Monday: 12 week and 26 week
Tuesday: 2 year and 4 week
Wednesday: 5 year
Thursday: 7 year
rough guess: 100-150 billion
13 week: http://www.treasurydirect.gov/instit/annceresult/press/preanre/2010/R_20100322_2.pdf
$28 billion
26 week: http://www.treasurydirect.gov/instit/annceresult/press/preanre/2010/R_20100322_1.pdf
$29 billion
At that rate we will see $168 billion this week.
A close buddy of mine said maybe 5 6 years ago they used to get nervous selling 40 billion( he was a bond trader ) now it is every week - Crazy -
Dollar bears are toast?
It's as if a thousand Goldman followers cried out, and then were suddenly silenced.
That's if you are naive enough to believe that Lord Blankfiend was long the Euro.
My radar says he advised his clients to be long while he was (and is very) short.
Oh, I totally agree. Once I saw that come up it was a pretty clear signal and I started shorting that bitch from 1.38 down.
I wish we could find out how many people lost their asses today though.
LMAO-
Admiral Blankfein: Any attack made by the Rebels against this station would be a useless gesture, no matter what technical data they have obtained. This {de facto hedge fund} is now the ultimate power in the universe. I suggest we use it.
wow, what a total shock to anyone who looked at an actual chart ? hah.
great call goldie, whomever held that reflex bounce for longer than 2 days back to 138, um, yeah, good luck with that.
march 17-18th daily bottom at exact retrace tgt with a daily morning star and ATR breakout.
again, stochastics default club ~ 1 year fixed period drop-off effect of daily readings from LAST year's 3/17 n 3/18 .. not fjucking "news".
81.37 / .59 and 1088 / 1084 will be the first levels of rez / support to contend with before the respective dam's bust open.
Goldman said daily close below 1.35 so its not over yet. I would not be surprised if this was a showdown between Soros and the hedgies short and Uncle Goldman Sam AKA 'We need to kill the $$$ to keep market afloat' long with a pinch of 'tell Greeks if they play along and say stupid stuff when we need it the most then we bail them out on 4/19'.
and yet equities positive.
who else aggressively bought this "dip" !! shaZOW!
The EURO downtrend I predicted continues and USD uptrend continues.
Equity markets can't ignore this for long.
The USD weekly chart remains bullish and I still expect a good dollar rally this year.
http://www.zerohedge.com/forum/latest-market-outlook-0
Yea, I don't wanna poo all over the parade but I am hearing they're looking for a daily close below the 1.35 level. Nevertheless, this sucker bounced squarely off it's channel resistance. New York is just doing it's typical anemic volume algo trading.
Or is it another Goldman set up?Point out the figure wait for everyone to pile in and then reverse?Its currently going for a retest,but to me it looks ok for an intra day long position at 1.3500 when it hits.
Ask yourselves -why would Goldman be voicing its opinions so widely unless it expected to profit from them?I think it often pays to fade their recommendations.
My stop is at 1.34 40 pips below the prev low. 1.35 is psychological
If this thing stays below 1.35 for an extended period you are going to see some huge blow ups not just in forex.
Goldman probably took out the stops(being they told traders where to put them ) - when that happened people re-entered the trade being the close wasn't below but the intra -day knocked em out - expect another day like today tomorrow but the Euro will even go lower taking out more stops then just close above 1.35 - just a guess
I dont day trade but if I did I would bet the euro will do the same thing tomorrow
The s/l (as most other sell side shop) is normally closing px NYT. Hence they are still long EURUSD...Doesn`t mean that they wont get stopped out till the end of the day. But as of now they are still long.
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